The Nationalist Congress Party president, Sharad Pawar, has aroused hopes amongst the Hindustan Antibiotics Limited. (HAL) employees by disclosing before them, a detailed rehabilitation plan for the Pimpri-based HAL

Addressing a gigantic gathering of employees and their families outside the premises of the company in Pimpri, he assured that the company would not be closed down. The plan he said would be discussed with the prime minister in the first week of December which involved conversion of government investment into equity, reaching one-time settlement of bank loans and getting financial assistance from the centre.

It may be recalled that BIFR had issued a notice in September to wind-up operations of the company. The BIFR will be hearing public suggestions and objections about the proposed winding up.

Pawar, who is also the president of the Hindustan Antibiotics Mazdoor Sangh, said the immediate objective was to urge the government to get an extension from the BIFR for submission of the rehabilitation plan.

He added that he and union representatives would be making a presentation to the Union Cabinet's economic advisory committee. He opposed the privatization of HAL and criticized BIFR for not taking adequate steps for the revival of the company. Highlighting the role of HAL in producing life-saving drugs he said, "The factory had played important role in providing life-saving medicines at affordable prices.'' He also praised the employees for their performance in keeping up the production at the company.

"The government could not shirk responsibilities. As per government policy, HAL never looked at earning profits, but at providing medicines at affordable rates to common man.'' He asserted.

He maintained that the government has not extended any financial help to the company for the last six to seven years. "The company is earning profits but it is not seen in the balance sheet due to the massive loans and the interests,'' he said. He also threatened to participate in the agitation if the centre was bent on closure of HAL.

Pawar said he had discussed the matter with chief minister Sushilkumar Shinde recently and he had assured that all requisite steps would be taken by the government for giving concessions to HAL.